Integra Resources (Vancouver: ITR) (OTC: IRRZF) is developing the large-scale DeLamar gold-silver project in southwest Idaho, explains Brien Lundin, a specialist in junior mining stocks and editor of Gold Newsletter.
When I say large-scale, I mean it: The company recently released an updated resource estimate showing 3.9 million ounces in gold-equivalent, measured and indicated resource (2.4 million ounces of gold and 116.5 million ounces of silver).
Another 500,000 ounces of gold-equivalent lies in inferred resources. And that’s so far. The company continues to aggressively drill the project, with outstanding results.
At its War Eagle Mountain target, Integra recently reported drill results that were highlighted by 10.9 g/t gold and 115.3 g/t silver over 34.1 meters. At its Florida Mountain target, the drill cut 1.7 g/t gold and 26.5 g/t silver over 45.8 meters, including 19.6 g/t gold and 68.2 g/t silver over 2.1 meters.
These results from War Eagle and Florida Mountain highlight the potential for high-grade ore at DeLamar to punch up the economics of the low-grade mill feed currently envisioned for the project.
And more results will be coming in 2020, as the drilling success has attracted smart, deep-pocketed investors. Integra recently closed a $31.9 million financing that will keep the drills turning while also funding a pre-feasibility study.
Integra’s share price has been largely range-bound in recent weeks. With more drilling and assays to come from DeLamar, I think the company makes for an excellent buy at current trading levels.
